Unveiling the Double-Edged Sword: Base Network's Rapid Growth vs. Coinbase
Friday, 22 March 2024, 12:30
Base Network's Rapid Growth Challenges Coinbase
Base Network's rapid ascent in the crypto world is challenging giants like Ethereum and Solana, with significant TVL growth and developer activity driving market dynamics. This growth spurt is causing headaches for the crypto behemoth Coinbase.
Can Base Network Challenge Solana?
Particularly after Ethereum's Dencun upgrade transaction efficiency on layer-2 solutions like Arbitrum, Optimism, and Base got enhanced. Hence, the users flocked to these layer-2 platforms.
- Base's meteoric rise: Record TVL of $794 million, a 19.62% weekly increase.
- Coinbase's innovation: Introducing 'Smart Wallet' to streamline interaction with dApps.
- Scalability issues: Transaction failures and increased gas fees highlight need for infrastructure upgrades.
- Developer activity: Base surpasses Ethereum in new contract deployments, enriching its dApp ecosystem.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.